Alliance Startup Fund Chooses First Loan Recipients

Posted on September 13, 2013

Accepting New Applications from Tech Entrepreneurs Through October 18

Alliance, OH, September 10, 2013 – The City of Alliance (www.cityofalliance.com) and the Technology Accelerator Alliance (TA2) (www.techalliance2.com) have chosen the first two young tech-based companies to receive $35,000 low-interest loans from the recently launched Alliance Startup Fund: Creative Target Systems and AMVONET.

“We’re so pleased to be able to provide this source of capital to these local growing firms,” says Brad Myers, Chief Executive, TA2. “Both companies have shown a commitment to leverage technology in order to improve upon existing industries—and both have chosen to do so right here in Alliance.”

Creative Target Systems is a veteran-owned firm based in the incubator space at TA2 that plans to create unique commercial- and consumer-grade targeting applications that rely on things such as streaming video, lasers, cellular technology and smartphone apps. AMVONET has developed a comprehensive, fully integrated software suite of e-learning solutions for industries such as education and healthcare.

“Without the funding, support and guidance from TA2, the City of Alliance and Mount Union, my company would not exist,” says Scot Loveland, Owner, Creative Target Systems. “I look forward to the day when Creative Target Systems can repay these entities by bringing job opportunities to Northeast Ohio. As a graduate of the University of Mount Union, I am also excited to continue my relationship with the institution that helped make me who I am today.”

The Alliance Startup Fund is a part of the JumpStart Entrepreneurial Network (www.jumpstartnetwork.org), a connected group of Northeast Ohio advisors, incubators, accelerators and seed funds providing a continuum of resources to accelerate entrepreneurial successes. The hyper-local loan fund was created to encourage and support young tech companies that can go on to attract additional funding, generate revenue and create new jobs in the community. Promising startups based in or willing to locate to Alliance, Ohio, can apply for payment-deferred, low-interest loans of up to $35,000.

Applications for the Alliance Startup Fund’s next round are due by October 18, 2013. Interested entrepreneurs can apply through jumpstartnetwork.org/apply.

“There is a lot of momentum around entrepreneurship in Northeast Ohio,” Myers says. “The City of Alliance and our homegrown incubator program, Technology Accelerator Alliance, are proud to be a part of this push.”